"It was more than just a hunch, says Jacob Foot of his first foray into US tech stock investments back in 2020. The 23-year-old says he played around with artificial intelligence tools in his first job and thought to himself: this technology is going to be a big deal. Foot put his savings each month into US shares and in particular the biggest investors in AI, the Magnificent Seven (M7)."
"The week before last, shares dropped on both sides of the Atlantic. In the US the S&P 500, which tracks the largest listed companies in the US, lost more than 200 points. The drop came amid dire warnings of a major stock market correction, if not a full-blown financial crash. The Bank of England, the International Monetary Fund (IMF) and the boss of the US bank JP Morgan were among those raising fears that popular investments, including tech company shares, gold, crypto and bonds, were over-valued."
Jacob Foot began buying US tech shares in 2020 after using artificial intelligence tools and invested monthly in the biggest AI investors, the Magnificent Seven. Foot expects to buy a larger London house after his investments paid off. Young investors have shown bravery by holding through declines and treating dips as buying opportunities. A recent short-lived market drop saw the S&P 500 fall more than 200 points amid warnings of a major correction from the Bank of England, IMF and JP Morgan’s boss. Markets recovered quickly, with record highs and the M7 rising about 37% over 12 months versus 15% for the rest of the S&P 500.
Read at www.theguardian.com
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